Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4721 24th Ave Fort Gratiot, MI 48059-3403

    • Commercial real estate
    • 8,750 SF
    • 1.80 lot acres
    OFF-MARKET
    Value Estimations
    $1,220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US43-4547358
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4721 24th Ave

    Year built
    2013
    Lot size
    1.80 lot acres
    Property size
    8,750 SF
    Zone code
    C-2*
    Property type
    Commercial real estate
    APN
    74-20-016-2031-020
    APU
    74200162031020

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,221,000
      Market price range: $411k - $1.22M
      AI Estimate
      $1,221,000
      Market price range: $411k - $1.22M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $795,000
      Current use
      MEDICAL BUILDING
      $1,070,000
      Change: +35% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Gratiot
    County
    St. Clair
    State
    Michigan
    Longitude
    -82.4578
    Latitude
    43.0452
    CBSA code
    19820
    CBSA name
    DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,740
    $0.00
    $0.00
    $1,119,000
    -
    $0.00
    $0.00
    $2,238,000

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      4718 24Th Ave

      Land • 1.00 Acre
      4718 24Th Ave, Fort Gratiot Township, MI 48059
      View Details
    • Value Estimation by Request
      20.57 Acres

      6945 Lakeshore Rd

      COMMERCIAL (GENERAL) • 20.57 Acres
      6945 Lakeshore Rd, Lakeport, MI 48059-2221
      View Details
    • Value Estimation by Request
      2,776 SF

      4217 Parker Rd

      COMMERCIAL (GENERAL) • 2,776 SF
      4217 Parker Rd, Fort Gratiot, MI 48059-3725
      View Details
    • Value Estimation
      $4,505,000
      87,624 SF

      3501 Riv Rd

      COMMERCIAL (GENERAL) • 87,624 SF
      3501 Riv Rd, Fort Gratiot, MI 48059-4159
      View Details
    • Value Estimation
      $3,255,000
      32,585 SF

      4124 24th Ave

      COMMERCIAL (GENERAL) • 32,585 SF
      4124 24th Ave, Fort Gratiot, MI 48059-3803
      View Details
    • Value Estimation by Request
      792 SF

      5763 Lakeshore Rd

      COMMERCIAL (GENERAL) • 792 SF
      5763 Lakeshore Rd, Fort Gratiot, MI 48059-2816
      View Details

    Similar Nearby for Sale

    • $224,900
      15.45 Acres

      Fort Gratiot Vacant Land

      15+ acre residential land with development potential in Fort Gratiot.
      00 Parker Rd, Fort Gratiot, MI 48059
      View Details
    • $199,900
      3.45 Acres

      West Lake Manor Land Opportunity

      3.45 Acres, 11 Buildable Lots, Beach Access
      0 Maplewood Dr, Fort Gratiot Township, MI 48059
      View Details
    • $260,000
      2,265 SF

      Lakeport Industrial Portfolio Opportunity

      Three-unit commercial property, fully occupied.
      7079 Lakeshore Rd, Lakeport, MI 48059
      View Details
    • Contact for pricing

      Land in Port Huron Trade

      Commercial land available in the northern Port Huron trade area.
      4845 24Th Ave, Fort Gratiot, MI 48059
      View Details
    • Contact for pricing
      86,923 SF

      Retail Space For Sale

      Retail space available with a new national tenant coming soon.
      4025 24Th Ave, Fort Gratiot Township, MI 48059
      View Details
    • $575,050
      21.00 Acres

      20+ Acres Development Opportunity

      Partially wooded 20+ acre land parcel near Lake Huron.
      00 Lakeshore Rd, Fort Gratiot, MI 48059
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Fort Gratiot

      Former Gander Outdoors space available for lease in Michigan.
      4055 24Th Ave, Fort Gratiot, MI 48059
      View Details
    • $12 SF/Yr

      Prime Retail Space on 24th

      Well-maintained commercial property with high visibility and ample parking.
      4130 24Th Ave, Fort Gratiot Township, MI 48059
      View Details
    • Contact for pricing
      1 SF

      Prime Commercial Land For Rent

      Excellent visibility, outparcel to Walmart, Port Huron trade area.
      4845 24Th Ave, Fort Gratiot Township, MI 48059
      View Details
    • Contact for pricing

      Premier Shopping Destination Near Detroit

      St. Clair County's premier shopping destination serving US and Canada.
      4350 24Th Ave, Fort Gratiot Township, MI 48059
      View Details
    • Contact for pricing

      Retail Space Inside Meijer Store

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      4775 24Th Ave, Fort Gratiot, MI 48059
      View Details
    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease in Fort Gratiot Township.
      4744 24Th Ave, Fort Gratiot Township, MI 48059
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4721 24th Ave
    Fort Gratiot, MI 48059-3403
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!